Part II of continuing examination of the effects of the financial crisis and how long experts think it will last. Interviews: Comptroller Bill Thompson, 1970s banker Felix Rohatyn; the effects of the crisis on workers and small businesses; an examination of whether term limits should be lifted for Bloomberg.
(Originally aired 10/16/2008)

Segment 1, The Economic Fallout for New Yorkers:

New York City and the surrounding tri-state area are feeling Wall Street’s pain ripple through the economy, with estimates of up to 240,000 jobs lost by the end of next year. Here’s a report on New Yorkers coping with layoffs and small businesses struggling with the economic downturn.

Segment 2, Interview with NY Comptroller Bill Thompson:

Rafael Pi Roman discusses the impact of the meltdown on NYC with Thompson: “We’re going to see a slightly smaller Wall Street. Even when things start to come back, there will be jobs that are lost forever.”

Segment 3, Interview with banker Felix Rohatyn:

Rohatyn was credited with saving the city from financial catastrophe in the 1970s: “The spirit of the City was very different [in the 1970’s.] Now, people are really, really nervous, they are really concerned… We had New York City banks in 1975. Today, we have a couple of global banks whose main concern is not New York City, but the global economy.”

Segment 4, Term Limit Turnover?

The debate over the Mayor’s bid for a third term. Hearings begin at City Hall over the controversial plan to extend term limits, overturning two voter referendums. Mayor Bloomberg claims a third term is essential for the city during this dire financial crisis. We hear from both sides of the issue.

Watch Part I of this program, which aired on Sept. 23, 2008.